Colgate-Palmolive (NYSE:CL) Sets New 1-Year High at $94.40

Colgate-Palmolive (NYSE:CL) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $94.40 and last traded at $94.24, with a volume of 527870 shares changing hands. The stock had previously closed at $94.08.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent analyst reports. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, January 26th. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. UBS Group upped their price objective on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Bank of America raised their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Barclays upped their price target on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.44.

Colgate-Palmolive Trading Up 0.7 %

The firm has a market cap of $77.20 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.43 and a beta of 0.40. The firm’s 50-day moving average is $88.78 and its 200-day moving average is $82.71. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the business earned $0.73 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.52 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Buying and Selling

In other news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $83.15, for a total transaction of $4,157,500.00. Following the completion of the transaction, the chief executive officer now owns 274,179 shares in the company, valued at $22,797,983.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,545 shares of company stock worth $13,663,710. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Trust increased its stake in shares of Colgate-Palmolive by 1.7% in the first quarter. Legacy Trust now owns 6,925 shares of the company’s stock worth $624,000 after purchasing an additional 116 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Colgate-Palmolive by 1.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,829 shares of the company’s stock valued at $705,000 after acquiring an additional 118 shares during the period. Regal Investment Advisors LLC raised its holdings in Colgate-Palmolive by 1.6% during the 4th quarter. Regal Investment Advisors LLC now owns 7,574 shares of the company’s stock valued at $604,000 after acquiring an additional 121 shares during the period. M&G Investment Management Ltd. lifted its position in shares of Colgate-Palmolive by 0.3% during the fourth quarter. M&G Investment Management Ltd. now owns 49,269 shares of the company’s stock worth $3,942,000 after acquiring an additional 125 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of Colgate-Palmolive by 3.8% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,374 shares of the company’s stock worth $304,000 after acquiring an additional 125 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.